Sohu (SOHU -3.2%) is off after HSBC starts coverage with an Underweight and $37 PT. Shares of...

Sohu (SOHU-3.2%) is off after HSBC starts coverage with an Underweight and $37 PT. Shares of the Chinese search/portal/gaming firm have been pressured this year by concerns about the impact of its aggressive search R&D spending on its bottom line.